Tim Cook announced an updated version of the Apple TV today, able to support …

Tim Cook announced an updated version of the Apple TV today, able to support 1080p HD video and coming with increased compatibility for a variety of Apple offerings. The new Apple TV will be released next week on March 16 and is available for pre-order starting today at the same $99 price point as its predecessor.

Cook demonstrated the device's new interface and showed its picture improvement through a clip from Extremely Loud and Incredibly Close (The Artist must not have been available). While the interface still isn't iOS, it appears to be an upgrade over what was previously offered. The interface is now easier to navigate through an icon-based design, and it supports many of the familiar video options (YouTube, Netflix, Vimeo etc.).

The new Apple TV has gained compatibility with iTunes Match and AirPlay. Earlier in the event, Cook announced that iTunes would support 1080p and movies would be supported in iCloud. Now all those purchases are accessible across Apple devices (iPad, iPhone, TV, etc.) no matter what venue you purchase them from. Upload time between devices appeared rather quick in a demonstration that took place during the keynote. Additionally, with Apple TV working with AirPlay, iPhone 4S and iPad users can rely on its mirroring ability to stream Web content or any work done on these devices.

Among other features worth noting, Apple TV's work with Photostream was demoed. Photos from your iPhone will automatically become accessible via Apple TV (a characteristic available on the previous incarnation of Apple TV). The new interface also has a Genius button, so Apple can recommend content to you based on TV or movies you've watched. Cook eagerly showed off the new features before closing with the option to pre-order today, saying, "and I would encourage you to do that."

Despite rumors about an updated processor for the device, that was a noticeable absence from the Apple TV announcement. Updates: With the product page now live, the updated Apple TV runs on Apple's A5 processor as opposed to the A4 (thanks to Ars user, Bolero, for the tip). When Ars received some hands-on time later in the day, we learned this isn't the same A5 as the new iPad.

A reminder: Apple TV requires an 802.11g/n Wi-Fi or Ethernet network, a broadband Internet connection, an HD TV capable of 1080p or 720p, and an HDMI cable (which, naturally, is sold separately).